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Chick-fil-A | 13yrs Remain Abs NNN w/ Incrs 3290 Atlantic Ave 2,598 SF Retail Building Long Beach, CA 90807 $5,573,824 CAD ($2,145.43 CAD/SF) 3.72% Cap Rate

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INVESTMENT HIGHLIGHTS

13 Years Remaining | 10% Every 5 Years | Corporate Signed
Strategic Long Beach Location | Dense Retail & Employment Corridor
Exceptional Market Fundamentals | Los Angeles MSA

Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
Modern Construction | Mission-Critical Drive-Thru Design

EXECUTIVE SUMMARY

SRS National Net Lease is pleased to offer the opportunity to acquire a leased fee (land ownership) absolute NNN leased, Chick-fil-A investment property located in Long Beach, California. The tenant, Chick-fil-A, Inc has 13 years remaining on their lease with 7 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Fast Food

Building Size

2,598 SF

Building Class

Year Built

2019

Price

$5,573,824 CAD

Price Per SF

$2,145.43 CAD

Cap Rate

3.72%

NOI

$207,187 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.07

Lot Size

0.83 AC

Zoning

C - Commercial

Parking

20 Spaces (7.7 Spaces per 1,000 SF Leased)

Frontage

210’ on Atlantic Avenue

Corner Lot
Restaurant

Signage
Signalized Intersection

Drive Thru

Monument Signage

Accommodation and Food Services
99,999 SF
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Whether greeting at the drive-thru or making a meal inside the restaurant, Chick-fil-A® Team Members strive to serve up memorable experiences for each and every guest. And they hope that dining with them inspires people to spread that sense of warmth to others, too. Eating on the go can be a challenge, but they want to help. From hand-breading the chicken for their classic sandwiches to sourcing fresh produce for their salads and fruit cups, quality food has always been a top priority. They believe in delivering great fast food every day (except Sundays). Their founder, S. Truett Cathy, made the decision to close on Sundays in 1946. He knew what it was like to work seven days a week in restaurants, so he saw the importance of letting his employees set aside one day to rest and worship if they choose. That’s a practice they still uphold today.